Northland Securities restated their buy rating on shares of Zagg (NASDAQ:ZAGG) in a research note published on Friday morning. The firm currently has a $23.00 target price on the specialty retailer’s stock.
Several other research analysts also recently weighed in on the stock. TheStreet upgraded shares of Zagg from a c rating to a b- rating in a report on Wednesday, November 1st. B. Riley upgraded shares of Zagg from a neutral rating to a buy rating and increased their target price for the company from $17.00 to $20.00 in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Zagg from a hold rating to a strong-buy rating and set a $20.00 target price for the company in a report on Thursday, October 26th. Craig Hallum reiterated a buy rating and issued a $23.00 target price (up previously from $16.00) on shares of Zagg in a report on Thursday, October 19th. Finally, Roth Capital set a $17.00 target price on shares of Zagg and gave the company a hold rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Zagg has an average rating of Buy and an average price target of $18.83.
Zagg (NASDAQ:ZAGG) opened at $19.50 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12. Zagg has a 1-year low of $5.90 and a 1-year high of $23.70. The firm has a market cap of $563.70, a price-to-earnings ratio of 77.50, a price-to-earnings-growth ratio of 4.02 and a beta of 0.93.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings data on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Zagg had a net margin of 0.63% and a return on equity of 6.59%. The firm had revenue of $134.40 million for the quarter, compared to the consensus estimate of $128.23 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. equities analysts forecast that Zagg will post 1 EPS for the current year.
In related news, CEO Randall L. Hales sold 19,829 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $19.85, for a total transaction of $393,605.65. Following the completion of the transaction, the chief executive officer now owns 713,380 shares in the company, valued at $14,160,593. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Randall L. Hales sold 50,001 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $19.16, for a total transaction of $958,019.16. Following the transaction, the chief executive officer now owns 713,380 shares of the company’s stock, valued at approximately $13,668,360.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,830 shares of company stock valued at $1,903,425. 4.20% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of ZAGG. Vanguard Group Inc. boosted its position in shares of Zagg by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,106,248 shares of the specialty retailer’s stock valued at $7,964,000 after acquiring an additional 66,284 shares during the period. Wasatch Advisors Inc. boosted its position in shares of Zagg by 7.3% in the second quarter. Wasatch Advisors Inc. now owns 1,370,557 shares of the specialty retailer’s stock valued at $11,855,000 after acquiring an additional 93,551 shares during the period. Moors & Cabot Inc. boosted its position in shares of Zagg by 49.8% in the second quarter. Moors & Cabot Inc. now owns 119,900 shares of the specialty retailer’s stock valued at $1,040,000 after acquiring an additional 39,850 shares during the period. Numeric Investors LLC bought a new position in shares of Zagg in the second quarter valued at approximately $707,000. Finally, EAM Investors LLC bought a new position in shares of Zagg in the third quarter valued at approximately $6,040,000. Hedge funds and other institutional investors own 82.75% of the company’s stock.
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ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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